Wealth Management

May 15, 2023

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The Rise of the ‘Estate Advisor’

Move over estate planners, it’s time for “estate advisors” to take the lead. At least that’s what Steve Lockshin and Vanilla hope.

 

Estate planning tech leader Vanilla announced Tuesday the launch of what it calls the first fully integrated estate planning platform—The Vanilla Estate Advisory Platform.

 

The product purports to offer advisors visualizations of the estate, beneficiary summary and projections, estate tax projections, a dynamic balance sheet integrated with the leading personal finance management tools and an on-demand report builder. Vanilla also offers estate-planning educational resources for both clients and advisors as part of its “Vanilla Academy.”

 

Advisors enter key info about the client’s family structure, upload any existing planning documents, create a balance sheet (either manually, through CSV import or via Vanilla’s integrations with platforms like Orion, Black Diamond and others) and either create or let Vanilla design a diagram of the desired plan. The end result is a compact (by estate planning standards at least) visual overview of the clients’ estate and current plan.

 

The newly announced “projections” feature allows advisors some ability to look to the future and show how manipulating certain variables (such as growth rates, order of passing, life expectancy, etc.) will change the waterfall calculations demonstrated in the docs to show their potential impact on the plan to clients in a more visual manner.

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Read the full article here: The Rise of the ‘Estate Advisor’

[David H. Lenok, WealthManagement]